Asset Planning Services Inc. LA ADV Acquires 590 Shares of Public Storage (NYSE:PSA)

Asset Planning Services Inc. LA ADV increased its stake in Public Storage (NYSE:PSA) by 3.2% during the 4th quarter, Holdings Channel reports. The firm owned 18,988 shares of the real estate investment trust’s stock after purchasing an additional 590 shares during the quarter. Public Storage comprises approximately 2.8% of Asset Planning Services Inc. LA ADV’s portfolio, making the stock its 17th biggest holding. Asset Planning Services Inc. LA ADV’s holdings in Public Storage were worth $5,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Public Storage by 0.5% in the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock worth $3,773,571,000 after buying an additional 55,123 shares during the last quarter. FMR LLC grew its position in Public Storage by 20.9% in the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after acquiring an additional 869,066 shares in the last quarter. Geode Capital Management LLC increased its stake in Public Storage by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock valued at $1,425,941,000 after acquiring an additional 52,807 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock valued at $1,023,080,000 after purchasing an additional 54,992 shares in the last quarter. Finally, APG Asset Management US Inc. lifted its stake in Public Storage by 4.8% during the second quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after purchasing an additional 100,000 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on PSA shares. Barclays reduced their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Evercore ISI decreased their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insider Activity

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 11.00% of the company’s stock.

Public Storage Stock Down 2.1 %

NYSE PSA opened at $290.87 on Thursday. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The stock has a market capitalization of $50.93 billion, a PE ratio of 30.20, a PEG ratio of 4.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day moving average is $315.48 and its 200 day moving average is $326.01.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $3.00 dividend. The ex-dividend date was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.13%. Public Storage’s dividend payout ratio is currently 124.61%.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.